Wolverine Trading LLC Takes Position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Wolverine Trading LLC bought a new stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,747 shares of the biotechnology company’s stock, valued at approximately $51,000.

A number of other hedge funds have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in Ironwood Pharmaceuticals by 23.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,904,271 shares of the biotechnology company’s stock worth $7,846,000 after purchasing an additional 364,841 shares in the last quarter. Weiss Asset Management LP bought a new position in Ironwood Pharmaceuticals in the 3rd quarter worth about $893,000. Robeco Institutional Asset Management B.V. boosted its stake in Ironwood Pharmaceuticals by 1,293.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 380,960 shares of the biotechnology company’s stock worth $1,570,000 after purchasing an additional 353,624 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Ironwood Pharmaceuticals by 150.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 126,289 shares of the biotechnology company’s stock worth $520,000 after purchasing an additional 75,917 shares in the last quarter. Finally, Walleye Capital LLC boosted its stake in Ironwood Pharmaceuticals by 264.2% in the 3rd quarter. Walleye Capital LLC now owns 280,299 shares of the biotechnology company’s stock worth $1,155,000 after purchasing an additional 203,331 shares in the last quarter.

Insider Activity

In other news, CFO Sravan Kumar Emany sold 11,001 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $4.08, for a total transaction of $44,884.08. Following the completion of the sale, the chief financial officer now owns 309,572 shares of the company’s stock, valued at $1,263,053.76. This represents a 3.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 12.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Leerink Partnrs upgraded shares of Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. Leerink Partners began coverage on shares of Ironwood Pharmaceuticals in a research note on Monday, September 9th. They issued a “market perform” rating and a $5.00 price target on the stock. Finally, StockNews.com lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.40.

Ironwood Pharmaceuticals Stock Performance

Shares of NASDAQ:IRWD opened at $3.53 on Wednesday. Ironwood Pharmaceuticals, Inc. has a fifty-two week low of $3.06 and a fifty-two week high of $15.70. The business has a 50-day simple moving average of $3.99 and a two-hundred day simple moving average of $4.95. The firm has a market cap of $564.90 million, a price-to-earnings ratio of -117.67 and a beta of 0.41.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.07). Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The business had revenue of $91.60 million for the quarter, compared to analysts’ expectations of $91.22 million. During the same period in the previous year, the company earned $0.12 EPS. Ironwood Pharmaceuticals’s revenue for the quarter was down 19.4% compared to the same quarter last year. As a group, research analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.08 earnings per share for the current year.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc, a healthcare company, focuses on the development and commercialization of gastrointestinal (GI) products. It markets linaclotide, a guanylate cyclase type-C (GC-C) agonist for the treatment of adults suffering from irritable bowel syndrome with constipation or chronic idiopathic constipation under the LINZESS name in the United States, Mexico, Japan, Saudi Arabia, and China, as well as under the CONSTELLA name in the Canada and European countries.